• Jammu & Kashmir Bank Fixed Deposit Schemes

    Jammu & Kashmir Bank offers fixed deposit schemes with attractive interest rates with quarterly interest payouts. With minimal opening amounts and a flexible range of tenures, the J&K Bank fixed deposits are a safe and attractive form of investment and savings. Senior citizens are given an additional rate of interest of 0.50% across all the maturity periods.

    Types of Jammu & Kashmir Bank Fixed Deposits

    The various types of Jammu & Kashmir Bank fixed deposits are as given below:

    • Resident Term Deposit
    • Tax Saver Deposit Scheme
    • Mehandi Deposit Scheme
    • Monthly Yield Deposit Scheme
    • Smart Saver Term Deposit Scheme
    • Super Earner Deposit Scheme
    • Super Reinvestment Deposit Scheme
    • NRE Fixed Deposits
    • NRO Fixed Deposits

    Features of Jammu & Kashmir Bank Resident Term Deposit Scheme

    These are the salient features of the J&K Bank resident term deposit scheme:

    • Quarterly payout of interest.
    • Short and long-term tenures ranging from 7 days to 10 years.
    • Minimal amount starting from Rs.100 making FDs more accessible to all.
    • Loan facility available.
    • Premature withdrawal with penalty is allowed.

    Features of Jammu & Kashmir Bank Tax Saver Deposit Scheme

    The key features of the Jammu & Kashmir Bank Tax Saver Deposit scheme are given below:

    • Nominal minimum amount of Rs.1000 making it possible for all to start saving.
    • Tax benefits under Section 80C of the Income Tax Act.
    • Interest payout can be monthly, quarterly, or on maturity of the deposit.
    • Maximum Rs.1.5 lakh can be invested in a single financial year.
    • Lock-in period of 5 years with no premature withdrawal.

    Features of Jammu & Kashmir Bank Mehandi Deposit Scheme

    The major features of the Jammu & Kashmir Bank Mehandi Deposit scheme are given below:

    • Joint FD for minor children under the guardianship of parent or guardian.
    • Tenure ranges from 5 to 15 years.
    • Maturity amount ranges from Rs.25,000 and Rs.50,000 to Rs.1 lakh.
    • Accident insurance cover linked to the maturity amount for the minor's parent or guardian.
    • Premature withdrawal allowed with penalty is allowed.
    • Loan facility available of up to 90% of deposit amount and interest accumulated till then.

    Features of Jammu & Kashmir Bank Monthly Yield Deposit Scheme

    The salient features of the Jammu & Kashmir Bank Monthly Yield Deposit scheme are given below:

    • Minimum amount starting from Rs.1000 for opening the deposit.
    • Tenures ranging from 1 year to 10 years.
    • Premature withdrawal allowed with payment of penalty.
    • Can be held jointly and by minors with their parents or guardians as well.

    Features of Jammu & Kashmir Bank Smart Saver Term Deposit Scheme

    The salient features of the Jammu & Kashmir Bank Smart Saver Term Deposit scheme are given below:

    • Deposit amount in multiples of Rs.25,000.
    • Tenure between 1 year to 10 years.
    • Linked deposit facility of 180 days available.
    • Sweep facility available for auto-sweeping and conversion into short-term linked deposits.
    • Reverse sweep facility available for clearing of debit instruments.

    Features of Jammu & Kashmir Bank Super Earner Deposit Scheme

    The important features of the Jammu & Kashmir Bank Super Earner Deposit scheme are given below:

    • Minimum deposit of Rs.1000 and above.
    • Tenure ranging from 1 year to 10 years.
    • Floating interest rate.
    • Loan facility available.
    • Premature withdrawal available with payment of penalty.
    • Interest payout on quarterly basis or on maturity.

    Features of Jammu & Kashmir Bank Super Reinvestment Deposit Scheme

    The important features of the Jammu & Kashmir Bank Super Reinvestment Deposit scheme are given below:

    • Minimum deposit amount of Rs.1000.
    • Tenure ranges from 1 year to 10 years.
    • Floating interest rate.
    • Interest payout on maturity.
    • Premature withdrawal allowed with penalty.

    Features of Jammu & Kashmir Bank NRE Fixed Deposit Scheme

    The main features of the Jammu & Kashmir Bank NRE Fixed Deposit scheme are as follows:

    • Quarterly payment of interest with reinvestment option.
    • Repatriation of deposits and interest into currency of choice.
    • Tenure ranging from 1 year to 3 years.
    • Interest and balance are tax-exempt.
    • Premature withdrawal allowed under certain conditions.
    • Loan facility against deposits available.
    • Auto-renewal on request available.
    • Nomination facility available.
    • Safe deposit locker facility available.

    Features of Jammu & Kashmir Bank NRO Fixed Deposit Scheme

    The following are the attractive features of the Jammu & Kashmir Bank NRO Fixed Deposit scheme:

    • Accounts can be opened from abroad by remittance.
    • Deposit tenures ranging from 7 days to 10 years.
    • Can be held as joint account with other NRIs or with Indian residents.
    • Interest amount is repatriable after TDS.
    • Reinvestment option available.
    • Quarterly payment of interest.
    • Premature withdrawal allowed under certain conditions.
    • Auto-renewal available on request.
    • Loan facility available.
    • Safe deposit locker available.
    • Nomination facility available.

    Jammu & Kashmir Bank Term Deposit Interest Rates

    Jammu & Kashmir Bank offers attractive interest rates on tenures ranging from 7 days to 10 years. Senior citizens are offered 0.50% additional rate of interest. Effective from 11 October 2020, the Jammu & Kashmir bank fd interest rates for deposits below Rs.2 crore range from 3.00% p.a. to 5.30% p.a.

    Eligibility Criteria for Opening J&K Bank Fixed Deposit

    The following entities are eligible to open a fixed deposit account with Jammu & Kashmir Bank:

    • Resident individuals (sole or joint)
    • Guardians on behalf of minor individuals.
    • Hindu Undivided Families (HUF)
    • Sole proprietors
    • Partnership firms
    • Public and private limited companies
    • Clubs
    • Societies
    • Associations
    • Trusts

    Documentation Required to Open Jammu and Kashmir Bank Fixed Deposit Scheme

    The following are the documents required to open a fixed deposit with J&K Bank:

    • Application form correctly filled in
    • KYC documents
    • PAN card or Form 60 or 61
    • Photographs of depositor/s (2 copies)
    • Related documents which are applicable for minors and other entities

    FAQs on Jammu and Kashmir Bank Fixed Deposit

    1. What kind of interest does Jammu & Kashmir Bank offer for fixed deposits?

      Jammu & Kashmir Bank offers simple interest on the fixed deposit schemes.

    2. Is TDS applicable on Jammu & Kashmir Bank fixed deposits?

      Yes, TDS is applicable on the interest of Jammu & Kashmir Bank fixed deposit accounts as per the income tax bracket if Form 15G or Form 15H (as the case may be) has not been submitted to the bank.

    3. Can I get a monthly interest payout with fixed deposit of Jammu & Kashmir Bank?

      You can open a fixed deposit account with Jammu & Kashmir Bank either by using the internet banking facility or by visiting your nearest branch.

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